How is a valid trust created?

A valid trust is created by first establishing the intention to create a trust, which is typically done by the settlor expressing their intent to create a trust for the benefit of the beneficiaries. The trust must have identifiable beneficiaries, a clearly defined trust property, and a trustee who holds legal title to the trust property. The trust must also have a legal purpose and comply with any formalities required by law, such as writing or witnessing requirements. Overall, a valid trust is created when all of these elements are present and the trust is created in accordance with the law.

This mind map was published on 30 November 2024 and has been viewed 73 times.